Walmart shares fell 2.5% to $94.78 on Friday, recording their largest one-day loss in over a year, following the release of a disappointing outlook from the retail giant. The company’s conservative guidance reflected worries over a slowdown in consumer spending and the impact of tariffs imposed by the Trump administration.
Despite recent gains, Walmart shares have lost 64% of their value since March last year, largely due to the ability of retailers to attract higher-income consumers seeking value on essential items. In contrast, investors are now closely monitoring key support levels near $90, $86, and $81, as well as a key overhead area near $105.
Walmart’s shares have trended in an ascending channel since March last year but encountered selling pressure near the upper trendline after setting a record high. The company’s earnings report, which indicated a slowdown in consumer spending and tariffs imposed by the Trump administration, accelerated selling pressure on Thursday, with the highest daily volume since May.
To better understand the technicals of Walmart’s chart, it is essential to identify crucial price levels where the shares could encounter support or watch for potential upswings. Key support levels include $96, which sat near a prominent December peak and the 50-day moving average, followed by $90, $86, and $81.
The shares are currently under pressure but may find support at these lower levels. The key overhead area to watch is $105, where investors who have bought shares at lower levels may look for exit points.
Investors should closely monitor Walmart’s stock price movements as they navigate the technical analysis of its chart.
Source: https://www.investopedia.com/walmart-stock-price-levels-to-monitor-after-recent-slide-11683913